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Monday, December 11, 2017
 China's Dairy Imports for 2014  

China’s dairy imports during 2014 were at record levels for whole milk powder (WMP), skim milk powder (SMP), and cheese, but all of the increase was front loaded to the start of the year.


Remarkable first and second quarter imports eventually lead to oversupply and a collapse to prices and imports. WMP imports in the first and second quarters of 2014 were 72% and 76% higher than imports in 2013. A similar trend was seen in SMP, where first and second quarter imports were up 100% and 62% year-on-year respectively. 


Fourth quarter imports, however, were down 72% and 45% compared with 2013 for WMP and SMP respectively. Typically fourth quarter totals are larger than the third quarter, with the average over the past five years 50% higher for WMP and 5% higher for SMP. Imports in 2014 reversed this seasonal trend, however, such was the decline in imports throughout the year.


Cheese imports were not as strongly affected by this decline and the year-on-year increases seen since 2005 continued. For the full year cheese imports were up 31%, compared with the more modest increases of 8% for WMP and SMP. There was a blip for third quarter imports of cheese, but the normal upward trend continued in the fourth quarter. 


The quantity of cheese imported is, however, much lower than WMP and SMP in total. WMP imports totaled 670,000t for the year, SMP imports reached 252,000t and cheese imports were just over 62,000t

Source: Dairy Trader

 


Posted on Thursday, January 29, 2015 (Archive on Thursday, February 05, 2015)
Posted by bholcomb@adpi.org  Contributed by bholcomb@adpi.org
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